More than 30% of Portuguese citizens state travel is the principal reason to save money, according to a study published by Intrum, compared to 31% before the coronavirus crisis.

Findings from the ‘European Consumer Payment Report’ reveal 34% of people in Portugal said “travelling is one of the main reasons to save money every month,” a figure “higher than the same period in 2019, which reached 31%,” according to the report.

The data reveals the “pandemic has increased the desire of the Portuguese to know the world,” said Intrum. Nevertheless, the figure reached 42% in 2017-2018.

Compared to the European average of 41% and Spain’s 40%, Portugal trails 7% and 6% respectively.

In addition, the Intrum findings show that women save more for travelling compared to men, at 35% and 32%, with the over-65s saving the most, at 46%. This is followed by the 18-21 age group and 22-37 bracket, at 38%. The 45–54-year-olds save the least, at 24%.

The study also revealed that 37% of families without children save the most for travel, compared to 26% of families with children.

“The pandemic had a major impact on all areas, yet the hospitality and leisure sector (64%) was one of the sectors where profit margins were most affected. Furthermore, 86% of respondents fear that a recession would have a very negative impact on the company,” said Luís Salvaterra, director of Intrum Portugal.

The European Consumer Payment Report 2020 study aims to share information regarding the daily lives of consumers in Europe, including their spending habits and monthly household finance management.

The annual report is based on an external survey carried out simultaneously in 24 European countries, including Portugal, with a total of 24,198 consumers taking part in the 2020 edition.